Long-Term Debt and Finance Lease Obligations

3 Months Ended

Mar. 31, 2020

Long-Term Debt and Finance Lease Obligations

Long-Term Debt and Finance Lease Obligations

9.Long-Term Debt and Finance Lease Obligations

Fair Value of our Long-Term Debt

The following table summarizes the carrying amount and fair value of our debt facilities as of March 31, 2020 and December 31, 2019:

	As of
	March 31, 2020				December 31, 2019
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In thousands)
5 1/8% Senior Notes due 2020 (1)	$	1,100,000	$	1,097,173	$	1,100,000	$	1,110,208
6 3/4% Senior Notes due 2021		2,000,000		2,022,220		2,000,000		2,109,420
5 7/8% Senior Notes due 2022		2,000,000		1,973,200		2,000,000		2,129,580
5% Senior Notes due 2023		1,500,000		1,446,765		1,500,000		1,543,770
5 7/8% Senior Notes due 2024		2,000,000		1,951,160		2,000,000		2,049,080
2 3/8% Convertible Notes due 2024		1,000,000		810,000		1,000,000		918,720
7 3/4% Senior Notes due 2026		2,000,000		2,058,380		2,000,000		2,128,900
3 3/8% Convertible Notes due 2026		3,000,000		2,418,780		3,000,000		2,907,870
Other notes payable		69,685		69,685		70,946		70,946
Subtotal		14,669,685	$	13,847,363		14,670,946	$	14,968,494
Unamortized debt discount on the Convertible Notes		(710,193)				(735,811)
Unamortized deferred financing costs and other debt discounts, net		(26,918)				(28,739)
Finance lease obligations (2)		217,747				233,199
Total long-term debt and finance lease obligations (including current portion)	$	14,150,321			$	14,139,595

(1) On May 1, 2020, we redeemed the principal balance of our 5 1/8% Senior Notes due 2020.

(2) Disclosure regarding fair value of finance leases is not required.

We estimated the fair value of our publicly traded long-term debt using market prices in less active markets (Level 2).